The 6th annual general meeting of the Sungala Rubber Estate, Ltd., s held on July 29th, 1921, at 5 p.m., at the head office. No. 40 Rinses Road. Mr. Cecil Holliday presided, supported by Dr. Chadwick Kew and Mr. Chang Nieh-yun (directors) and Mr. R. OG. Philippe (secretary). The number of shares represented was 30,674.
In his speech, the Chairman said Following precedent, your Directors have put into the printed report all they can find to say about the working of the Estate during last year and about the general situation.
As regards this latter, I am sorry to say there is as yet no relief, the selling price of rubber is still much below what it can be produced at and in consequence there is no tap-1 ping going on and all expenditure has been reduced to its lowest possible level compatible with keeping the Estate in a proper condition. Your Directors have foregone their fees and the Secretaries and General Managers reduced their remuneration by 40 per cent. and that is all there is to be done for the present.
There were no questions, and the formal resolutions were adopted.
Text read from the printed page and cleaned; old type leaves the occasional error.